Murdoch’s iPad Newspaper The Daily Launches

The Daily promises to be the world’s first “newspaper” designed exclusively for the Apple iPad, the tablet computer the media tycoon has said may be the savior of the struggling news industry.

The 79-year-old media tycoon Murdoch, who is the chairman and CEO of News Corp., and Eddy Cue, vice president of Internet Services at iPad maker Apple, are to take the wraps off The Daily at an event at the Guggenheim Museum in New York.

The Daily is a new frontier for News Corp. The media empire historically purchases a publication and goes in and restructures, as it did with The Wall Street Journal. By contrast, Murdoch starts from scratch with The Daily.

According to The Wall Street Journal, which is owned by News Corp., The Daily will cost 99 cents a week and will be sold exclusively through Apple’s online iTunes store.

New issues will be automatically delivered to a subscriber’s iPad every morning.